Mr. Kirkwood is the chief financial officer of Philippine Metals Inc. (TSXV: PHI) and a director and chief financial officer of Citation Resources Inc. (TSXV: CTT).  He is a qualified Chartered Accountant and has over 20 years of international experience working in accounting and audit, mergers and acquisitions and corporate finance.  Mr. Feisal Somji, formerly the Corporation's interim Chief Financial Officer, will continue in his role as a Director of Prize. 

The Corporation also announces that, subject to regulatory approval, on May 6, 2011 it granted a total of 1,200,000 options to purchase common shares of the Corporation in accordance with the Corporation's stock option plan.  The options expire 5 years from the date of grant and all options have an exercise price of $0.30 per common share. Out of these options, 825,000 options were granted to directors of the Corporation, 100,000 were granted to an officer of the Corporation, 225,000 were granted to consultants of the Corporation and 50,000 were granted to employees of the Corporation. The Corporation has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the issuance of the options to the directors of the Corporation (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than 25% of Market Capitalization).